ExxonMobil (XOM) Faces Opposition Over Climate Activist Lawsuit

Group 1 - Exxon Mobil Corporation (XOM) is facing backlash from major investors due to its lawsuit against climate activist investors [1][2] - Norges Bank Investment Management (NBIM), XOM's sixth-largest shareholder with a 1.23% stake, will vote against the reappointment of ExxonMobil's directors [2] - Calpers, the largest public pension plan in the U.S., has joined the opposition, stating it will vote against the re-election of all ExxonMobil directors [1][3] Group 2 - The lawsuit has raised concerns among activists and shareholders, who argue it suppresses debate at public companies [1][2] - Shareholder proxy advisor Glass Lewis recommends voting against the reappointment of certain directors due to ExxonMobil's aggressive tactics [2] - ExxonMobil argues that securities regulators have allowed too many resolutions to proceed to a vote, which imposes financial burdens on companies [2] Group 3 - The upcoming AGM will be closely watched as a potential turning point in the debate over shareholder rights and corporate responsibility regarding climate change [3]